Can't see NST holding its share price, page-123

Gold producing companies aren't gold. It's about PE ratios IMO and if broader market PE ratios go down further so will those of gold stocks which are just overvalued paper like the rest of the market. The general narrative at the moment amongst more learned market watchers is about disruption to global supply chains affecting businesses, grinding economies to a halt and causing defaults in almost $3.7 trillion of junk bonds and the rerating down of BBB and BBB- investment grade bonds. Back to the old culprits in the last instance, ie the rating agencies getting the risks wrong and not understanding the interconnectedness of what they were measuring, like in 2008 with the collateralised mortgages. The low grade defaults spilled up what was supposed to be a discrete risk chain.

The Fed is getting very desperate when there is open talk of printing money to buy stocks directly, although that's the net effect of their printing in any case. It's the Fed's bubble, they need to re-inflate. Problem in this situation is that a constant rate of printing is not likely to be enough to keep the markets, banks, the virus and the economy in check, ie bailout everything.Esh